OMAHA (DTN) -- July corn is down 9 1/4 cents, July soybeans are down 1 1/4 cents, and July Chicago wheat is down 14 1/2 cents. USDA increased its production estimate of the U.S. hard red winter wheat crop from 743 to 781 million bushels, more than expected given the harsh drought conditions in the western half of the Southern Plains. World wheat production was reduced from 701.1 to 695.9 million metric tons, a modestly bullish surprise not reflected in today's trading.

Posted 11:49-- July corn is down 8 cents, ...

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